Publicis and Omnicom Merge

NEW YORK CITY-In a move that could shake up office space in the city, advertising and communication giants Publicis Groupe and Omnicom Group have agreed to merge, becoming the world’s largest advertising firm. The partnership had combined 2012 revenue of $22.7 billion. The newly named Publicis Omnicom Group will have a combined equity market capitalization of approximately $35.1 billion, based on closing prices on July 26^th.

The organization’s holding company, Publicis Omnicom Group, will be headquartered in the Netherlands but its main operational offices will remain in Paris and New York. Spokespeople for Publicis and Omnicom did not respond to requests for comment. Tenant representation firms that could have spoken to general office trends in the wake of such a large merger did not respond to requests for comment by press time.